Watch the brief video below to understand how Carol in Compliance and Clark the Data Steward can work together to solve GDPR challenges
INCREASING M&A ACROSS ALL INDUSTRIES
During the pre-merger phase, there’s a business and compliance need to understand how data assets from each of the combining companies overlap or complement each other. Information about customers, suppliers, contracts management, human resources, products, pricing and financials are all key data points that need to be examined.
TRADITIONAL MDM CAN’T HELP
Existing technologies such as on-premises master data management (MDM) solutions are themselves siloed datasets requiring reconciliation. Their long implementation cycles and constrained focus on master data disqualifies them as an option to support this process. Only a Modern Data Management Platform as a Service (PaaS) can bring together and act upon data from thousands of sources, across hundreds of operating companies and organizations in the cloud.
INSTANT PRE-MERGER ANALYSIS
Reltio Cloud for M&A is uniquely able to handle the volume, variety and velocity of data across hundreds of sources and applications with tens of thousands of attributes. Reltio rapidly connects the dots between related information, as well as systematically cleansing and standardizing data, making it reliable for reference and downstream consumption.
MODERNIZING CLEAN ROOMS
Reltio has been used successfully for M&A Clean Rooms which are shared between companies involved in the merger, acquisition or joint venture. Confidential data such as information about customers, products, vendors, employees is loaded into Reltio with access granted only to independent auditors and other authorized business users. With no hardware or software to buy, granular security and access controls, Reltio stands up a clean room in a fraction of the time it would normally take.
ENRICHING DATA FOR A COMPLETE VIEW
A Clean Team analyzes data from the respective companies and models potential synergies for the combined company. During this process both companies can use Reltio’s built-in Data as a Service (DaaS) to augment and enrich the information. As an added benefit companies often find that they can also surface valuable and unused dark data.
ACCELERATING POST-MERGER INTEGRATION
Post acquisition, all consolidated and rationalized data is immediately available for operational and analytical use. The combined company can take advantage of Reltio’s ability to rapidly distribute data to downstream applications across the two companies, and also use Reltio data-driven applications to deliver a new set of capabilities to address opportunities unsupported by their existing systems.
A leading end-to-end system integration company used a legacy, on-premises MDM to manage their supplier data but found it unscalable for improving business operations in the aftermath of a merger.
10 Steps to GDPR Compliance
Effective May 25, 2018, General Data Protection Regulation (GDPR) will represent the most rigorous data protection regulation ever. Complying is not optional, and the penalties are very high. As companies scurry for total compliance, it makes sense to pause, assess, and use this opportunity not only for compliance but for managing customer data efficiently and gainfully.
MACHINE LEARNING PUTS DATA FRONT AND CENTER FOR BUSINESS
Machine learning is surrounded by fascination and awe. It can drive better personalized experiences with customers, increase workforce effectiveness, and de-risk your organization from security threats and regulations. But, machine learning needs quality data, relevant data, and better context surrounding transactions, interactions, operations and decisions.
Businesses Feeling the Heat of the ‘Amazon Effect’
Over the past 10 years, Amazon’s market value has grown more than 2,000 percent. The entire retail industry is feeling the heat, and companies are investing in digital transformation initiatives to help them compete. Walmart, for example, is rapidly investing in digital capabilities and online brands (it acquired Jet.com, for example).
WHY MASTER DATA MANAGEMENT AND MACHINE LEARNING GO HAND IN HAND
Reltio’s inclusion in the The Forrester Wave™: Machine Learning Data Catalogs Q2 2018, by Michele Goetz with Gene Leganza, Elizabeth Hoberman, and Kara Hartig, Forrester Research, June 2018, sparked (pun intended) several questions. Such as why was Reltio included, how did we receive such strong marks, and why were we the only Master Data Management (MDM) vendor in the Wave?